The Hanjin Effect: Improved First-Quarter May Be Turning Point for HMM

By Alexander Whiteman (The Loadstar) - Hyundai Merchant Marine (HMM) has calmed the waters that led it to the brink of bankruptcy with first-quarter results showing a reduction in operating losses and an upturn in volumes handled. The heir-apparent to Hanjin as South Korea’s de facto flag-carrier, HMM reduced its operating loss to $117m in the three months to March, compared … [Read more...]

MSC Confirms Acquisition of Hanjin’s Stake in U.S. Ports Operator

LONDON, Feb 1 (Reuters) - A unit of Swiss shipping group MSC has bought a stake in U.S. ports operator Total Terminals International (TTI) from Hanjin, MSC said on Wednesday, having overcome objections from the South Korean line's U.S. creditors. Privately owned MSC, the world's no.2 global shipping line, said in a statement its subsidiary Terminal Investment Ltd. (TiL) had … [Read more...]

U.S. Judge Approves Hanjin Terminal Sale

By Jim Christie SAN FRANCISCO, Jan 18 (Reuters) - Bankrupt South Korean shipping line Hanjin Shipping Co Ltd won U.S. court approval at a hearing on Wednesday for the $78 million sale of its stake in U.S. terminal operator Total Terminals International LLC, overcoming objections of container companies. "My decision is to approve the sale," U.S. Bankruptcy Judge John … [Read more...]

Hanjin Shares Surge on Report Asset Sale to Close Next Week

By Kyunghee Park (Bloomberg) -- Hanjin Shipping Co. shares surged by their daily limit of 30 percent in Seoul after a local media report that the sale of the collapsed container mover’s U.S.-Asia assets to a unit of South Korea’s SM Group is approaching its completion. The stock capped its biggest gain on record and closed at 481 won in Seoul after Edaily reported the … [Read more...]